Quote:
Originally Posted by Biggd
Only that the spouse can collect the larger payment for the rest of their life. This is beneficial if there is a big difference in payouts between the two.
This is my plan, defer until 70 but my wife will start collecting at 65 or 66. My payout is almost double hers so if anything happens to me she can collect mine.
Even though I plan on retiring at 66 I am financially able to support my lifestyle for four years until I start collecting SS.
There is no perfect plan because the unknown is how long you're going to live. But if you're healthy you have to plan for a long life.
|
This is exactly my recommendation to my clients. (as long as they are reasonably healthy). Most situations the husband's payout is substantially higher, if funds permit have the spouse collect at 65 and husband hold out for as long as possible, again depending on health. This will obviously maximize the husbands payout and the wife if the husband passes first.